The Internal Revenue Service (IRS) is already accepting and processing 2021 tax returns. As millions of Americans prepare to file and pay their taxes before the April 18 deadline, here’s what you need to keep in mind.
Tax Season 2022 Has Officially Begun!
The IRS began accepting 2021 tax returns on January 24, marking the start of this year’s tax season.
It’s worth remembering that, unlike most years, federal Tax Day this year will be on April 18, not April 15. This is due to the fact that the state of Washington celebrates Emancipation Day on April 15.
Here are other things you should keep in mind to make tax filing easier in 2022:
- Begin by gathering all the documents you will need, including W-2s, receipts, canceled checks, and any other element you may need to support items of income, deductions, or credits on your return.
- Filing electronically helps you avoid delays with your refund. This is particularly important considering that refunds may take longer than usual this year because the IRS is still dealing with a backlog of unprocessed 2020 tax returns (more on that later).
- If you received Advance Child Tax Credit Payments or the third Economic Impact Payment, remember to include in your records the letters from the IRS you should have received between December 2021 and January 2022.
- If the IRS is still processing your 2020 tax return, you can still file your return for 2021. This presents a problem because in order to file, you’ll need the Adjusted Gross Income (AGI) from your most recent tax return. To solve this, the IRS asks taxpayers still waiting for their 2020 tax return to be processed to enter $0 (zero dollars) as the AGI value for last year.
Need Assistance Filing Your Taxes? Contact Delgado’s Insurance
Taxes don’t have to be complicated. At Delgado’s Insurance, we have made it our our mission to take the stress of tax filing off your hands. We help you reduce your liability and maximize your deductions while staying compliant with all relevant laws and regulations.
We have locations in Riverside, California, and Bloomington, California. Contact us today by telephone (951-361-0084, 909-421-9003), email (mail@delgadosinsurance.com), or through our social media accounts (Facebook, Twitter).
